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consumer price indices in Iran and the U.S., real GDP and the relative import prices. However, in the short run only the rising …
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Testing purchasing power parity (PPP) in the black market has increased in recent years due to the apparent puzzle in … the literature by which PPP is largely rejected in flexible exchange rate regimes. Many studies of PPP suffer from the … foreign price are not weakly exogenous in many countries, and a direct test provides the rejection of the PPP hypothesis …
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